Whales have accumulated nearly 5% of the entire network’s supply, yet their holdings are still temporarily in the red. Could smaller investors be rushing to dump $ETH ?
Tom Lee’s Bitmine just spent another $30 million to scoop up 12,535 $ETH , bringing its total holdings to 6.04 million coins, equivalent to 4.9% of Ethereum’s supply. They’re now just 1% away from reaching their goal of accumulating 5% of the entire network after 15 months of steady buying.
In reality, the fund’s position is still showing an unrealized loss because it accumulated a lot at higher prices in the past. But instead of selling, it has locked up 84% of its holdings in staking, earning around $309 million a year. This move is quietly reducing the amount of ETH circulating on the market.
At the time of writing, $ETH is holding at $2,417. My take is that big players are accumulating for the long game—but if you’re trading futures in the short term, don’t assume the price will bounce right away. Liquidity sweeps in either direction are still very possible, so lower your leverage and check the $ETH chart 👇 to see which way buying and selling pressure is leaning before entering a trade.
#ETH #Ethereum #Crypto #Trading
Tom Lee’s Bitmine just spent another $30 million to scoop up 12,535 $ETH , bringing its total holdings to 6.04 million coins, equivalent to 4.9% of Ethereum’s supply. They’re now just 1% away from reaching their goal of accumulating 5% of the entire network after 15 months of steady buying.
In reality, the fund’s position is still showing an unrealized loss because it accumulated a lot at higher prices in the past. But instead of selling, it has locked up 84% of its holdings in staking, earning around $309 million a year. This move is quietly reducing the amount of ETH circulating on the market.
At the time of writing, $ETH is holding at $2,417. My take is that big players are accumulating for the long game—but if you’re trading futures in the short term, don’t assume the price will bounce right away. Liquidity sweeps in either direction are still very possible, so lower your leverage and check the $ETH chart 👇 to see which way buying and selling pressure is leaning before entering a trade.
#ETH #Ethereum #Crypto #Trading